Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in MidCap Financial Investment Corporation (NASDAQ:MFIC)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) by 8.6% in the first quarter, HoldingsChannel.com reports. The fund owned 103,696 shares of the company’s stock after purchasing an additional 8,176 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in MidCap Financial Investment were worth $1,334,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new position in MidCap Financial Investment during the 4th quarter valued at about $156,000. HB Wealth Management LLC boosted its holdings in MidCap Financial Investment by 18.2% during the 1st quarter. HB Wealth Management LLC now owns 12,446 shares of the company’s stock valued at $160,000 after acquiring an additional 1,914 shares during the period. MQS Management LLC purchased a new position in MidCap Financial Investment during the 1st quarter valued at about $162,000. Accel Wealth Management boosted its holdings in MidCap Financial Investment by 8.5% during the 1st quarter. Accel Wealth Management now owns 13,651 shares of the company’s stock valued at $176,000 after acquiring an additional 1,074 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in MidCap Financial Investment by 364.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,142 shares of the company’s stock valued at $182,000 after acquiring an additional 11,100 shares during the period. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

MidCap Financial Investment Price Performance

MFIC stock opened at $12.87 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.53 and a quick ratio of 5.98. The firm has a market capitalization of $1.20 billion, a P/E ratio of 11.92 and a beta of 0.99. The business’s 50-day moving average is $12.73 and its two-hundred day moving average is $12.80. MidCap Financial Investment Corporation has a 1 year low of $10.18 and a 1 year high of $14.74.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. MidCap Financial Investment had a return on equity of 10.44% and a net margin of 30.60%. The company had revenue of $81.25 million for the quarter, compared to analyst estimates of $81.70 million. Analysts anticipate that MidCap Financial Investment Corporation will post 1.73 earnings per share for the current fiscal year.

MidCap Financial Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 11.8%. The ex-dividend date of this dividend is Tuesday, September 9th. MidCap Financial Investment’s dividend payout ratio (DPR) is 140.74%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on MidCap Financial Investment from $13.50 to $11.50 and set a “neutral” rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods cut MidCap Financial Investment from an “outperform” rating to a “market perform” rating and set a $14.00 target price for the company. in a report on Wednesday, July 23rd. Truist Financial reduced their price target on MidCap Financial Investment from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company reduced their price target on MidCap Financial Investment from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.50.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.